my wife signed my signature on 6 loan contracts without me knowing about it. i want to know what will happen if i dont pay this money back to the bank. the bank didnt contact me at all about these loans
If the money isn't paid back, the bank will sue both of you. If you raise as a defence that your signature was forged, then the bank will report that to the police who will charge her.
my wife borrowed this money as she had a gambling problem. The house had been paid out four years before she got the first loan and the bank used the title of the house which was at the bank for safe keeping. I didnt know about any of this so does it change the situation as to me not paying the money back and if i dont pay the money back what happens to me being the innocent party to this.
As mentioned, the bank will sue both of you. If you raise the fact that your wife forged your signature without your knowledge, the bank will report it to the police who will charge your wife.That should result in the bank ceasing action against you to pay the debt, but if your wife is a co-owner of the property the bank will want to sell the house so they can access her share of the property. I'm sorry, and I wish I had better news for you. I realize that this answer may not be entirely to your liking, and I regret being the bearer of information that you really don’t want to hear. But it would be unfair to you and unprofessional of me if I were to provide you with anything less than truthful and honest information. As such, if my answer has been helpful or informative to you, even if it wasn't necessarily what you wanted to hear, please hit the Accept button.
if the bank ceases action against me and sells the house to get my wifes half will the bank then give me my half back?
Yes.If my answer has been helpful or informative, please press the Accept button. I am also able to answer further questions after accepting.
if i accept the answers you have given me and the money is transferred to you do i stil have a month to get my questions answered?
I did my law degree at the University of Queensland
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).